Envestnet Portfolio Solutions Inc

Item 5 – Fees and Compensation

Clients in the Programs pay a program fee (each, a “Program Fee”) to EPS from which EPS pays the applicable
Sub-Managers, Model Providers fees and third-party service providers as described herein. EPS takes
instruction from the Advisor with regards to how Client’s billing should be set-up and administered. As
described below, certain Advisors may not use EPS for their billing services, in which case, EPS is paid by
invoicing the Advisor instead of debiting Client’s account. Depending on the services utilized by the Advisor,
the Program Fee also includes investment management services comprised of client profiling assistance,
strategic asset allocation assistance, style allocation assistance, research and evaluation of investment
strategies and Funds, account performance calculations, account rebalancing, account reporting, account
billing administration, and other operational and administrative services. However, Clients whose Advisors
perform or utilize a third-party to perform certain of these services listed above may pay a lower Program Fee.

As one of its services, EPS performs account billing administration, whereby EPS, acting as billing service
provider deducts the Program Fee, the fees charged by Advisor and the custodian fee from the Client’s account
and pays the applicable parties. However, Client’s Advisor and the custodian utilized may independently
deduct such fees from the Client’s accounts. The Advisor’s fees may be processed by EPS but are paid directly
to the Advisor. Advisors may also choose to bundle the Advisor fee and the Program Fee to present one fee to
Client and pay EPS separately. Please note that in coordinating the processing of Advisor’s fee with the
custodian, EPS is acting as an outsourced, processing agent for the Advisor and does not undertake a duty to
supervise Advisor’s fee disclosure to Client. On average, the fee charged by Advisor will range from
approximately 0.80% to 1.10%; however, Clients should separately refer to Advisor’s Form ADV Part 2A and
fee schedule in the client agreement with Advisor for a description of Advisor’s fees for Client’s particular
account(s).

EPS does not require a Client to utilize a particular executing broker-dealer or custodian and currently has
relationships with many executing broker-dealers and custodians that provide brokerage, clearing and custody
services to Clients in the Programs. The choice of which custodian to utilize is determined by the Advisor or

Envestnet Portfolio Solutions-Form ADV Part 2A                                        June 30, 2026

Client in consultation with their Advisor. An Advisor that does not have a direct custodian relationship may
utilize EPS’s contractual custodial arrangement and fee schedule in servicing Client’s account. Accounts
leveraging the EPS arrangement with Pershing Advisory Solutions will be charged a range of .04 bps to .25 bps
for custody, calculated on a tiered basis 1, with a portion of that fee retained by EPS for additional administrative
support services. For those firms that rely on EPS’s agreement with Fidelity Brokerage Services for custodial
services, the fee range is from .05 bps to .28 bps, calculated on a linear basis 2, which is paid directly to Fidelity
with no fees retained by EPS. The actual fee charged within the ranges noted depends on assets invested,
program type, and possible householding discounts for clients with multiple accounts at the same
custodian. Additionally, Client’s Advisor may ask EPS to exclude certain assets from the fee calculations, and
custodial minimums may also apply based on custodian and the dollar value of aggregate assets in an
account(s). Please consult with your Advisor for details on the custodial fees assessed to your account.

Certain fees are not included in the Program Fee shown below; the most significant of which is the fee charged
by the Advisor, which generally range from approximately 0.80% to 1.10%. Even if the Client is utilizing
custodial asset-based pricing, certain fees charged by a broker or custodian may also be assessed (described
more fully below in “Other Issues Relating to Fees”). The Program Fees shown below include assumed
brokerage, clearing and custody fees based on a percentage of Client’s assets held in the Program, but do not
include assumed fees charged by the Advisor. Clients will generally pay an asset-based fee for the
brokerage/custody/clearing services provided by the broker or custodian (as opposed to transaction-based
fees such as commissions). For certain custodial relationships, EPS is able to present the asset based custodial
fee as part of the Client’s fee schedule in the client agreement between the Advisor and Client. To the extent
that such fees are not included in the fee schedule, the Client will be so informed in writing by Advisor. Clients,
through coordination with their Advisor, may utilize transaction-based pricing for clearing and custody
services. In that case, those fees will be disclosed separately to the Client in the applicable custodian’s clearing
and custodial paperwork.

                                                   ***See next page for Fee Schedule***

    Tiered - the custodial fee is a blended rate based on the billable account value in each tier.

    Linear - the custodial fee is the rate listed at the highest asset tier based on the billable account value.

Envestnet Portfolio Solutions-Form ADV Part 2A                                                                     June 30, 2026

The standard fee schedules for EPS’s Programs are as follows, however, lower fees may be separately
negotiated by the Advisor:

                      Program/Portfolio                                        Fees *, **, ***

                      Equity SMA Portfolios                                    0.52%-1.21%

                      Fixed Income SMA Portfolios                              0.38%-0.82%
...

Item 7 – Types of Clients

As described above under Programs, EPS provides portfolio management services to individuals, high net
worth individuals, Advisors, banks, trusts, corporate pension and profit-sharing plans, Taft-Hartley plans,
charitable institutions, foundations, endowments, municipalities, registered mutual funds, private investment
funds, trust programs, sovereign funds, foreign funds such as UCITs and SICAVs, and other U.S. and
international institutions.

The Programs are made available by EPS through each Client’s independent Advisor, and in certain limited
instances, directly to the Client. Participation in each of the Programs may carry a minimum account size for
any particular portfolio and strategy selected. Generally mutual fund or ETF asset allocation portfolios will
require $10,000 -$50,000 account size minimums. Separately managed accounts for equity strategies will
generally require $100,000 account size minimums and $250,000 account size minimums for fixed income
strategies. Multi-sleeve portfolios will generally require $150,000 account size minimums. The Market Series
QP portfolios have account minimums starting at $60,000 and the Factor Enhanced QP portfolios have account
minimums starting at $100,000. Minimum account sizes may be lowered at the discretion of the portfolio
manager at the request of the Advisor. Accounts funded below the recommended minimums can impact the
account performance, and clients should discuss any questions with or request further information from their
Advisor in such situations before funding the account.

Envestnet Portfolio Solutions-Form ADV Part 2A                                        June 30, 2026